Medicare is for those who are age 65 and older or younger than 65 and disabled. Medicare coverage can be confusing and we are here to make it easy for you to understand.
Medicare Part A is hospital coverage only and typically no charge.
Medicare Part B is medical coverage and covers things like doctor visits, lab work and diagnostic testing. The standard Medicare Part B premium amount in 2019 is $135/month but if you have a high income, you could pay more.
Most people add on a “Medigap” or Medicare Supplement policy, which will pick up the gaps in coverage that Medicare Part A & Medicare Part B both have. These policies are offered through private insurance companies like Blue Shield or Anthem Blue Cross and are very affordable.
Medigap plans do not include any prescription coverage, however, you can sign-up for a separate Medicare Part D plan, which will cover prescription drugs at the pharmacy.
There are also Medicare Advantage plans, which are typically HMO plans that cover medical services, as well as Medicare Part D all in one plan.